Member Info for Bebeto

Looks like the company has vastly improved their RNS writing, much clearer to read.

Sales simplified calculation is a profit of £922k.

Mean average of 548oz per month smelted for the quarter.

3 directors have resigned and are off the wage bill.

Underground mining is under care & maintenance.

Production coming from open put & heap leach.

Looks like they're still some exploration drilling.

What's the future production forecast and how are they going to achieve this?

Last time around it was 2koz per month, now the company has been heap leaching for a while and should have a better grasp, has this changed?

I take it the under ground mining will need funds before recommencing?

Where are they exploring? Vim Rutha?

Appreciate genuine answers.

Charming ! I'm not going to lower myself, so personal attacks will only make me post more which ruins constructive debates.

Exactly, if someone says something negative come back with facts and work things through. Facts are undeniable .

It's very easy to read things in the wrong context.

See I read my comments as coming from a frustrated share holder after being previously burnt here.

I don't need to look further under the bonnet than the SP as it hasn't moved from where it was last , therefore no funding and they must be short of cash. Is an easy conclusion to make.

For the record I'm actually a holder here!

I haven't looked at the share since January and the SP is exactly where when I last looked.

When you discuss negatives in a civil manner you can actually work things out and sometimes they may not actually be a big a negative as it first looks.

You want people to buy this share and push the SP up but constant bickering puts people off asking questions and therefore buying in.

Why not spend time engaging with people's woes and working things out?

SP can't get much lower, when do people discuss the negatives?

The proceeds of the Subscription shall be used to fund the transactional costs for the Kilimapesa expansion funding currently being finalised.

What does the above passage say about the company's cash situation?

Oh they done one last month that should keep the lights on a little longer.

Surprised this lot hasn't gone bankrupt yet, must be due another placement?

The problem is the debt , if they can sort it out properly literally everything else falls into place.

As for take overs anyone ever heard of enterprise value?

IOG has massive debt to equity ratio , over 2 times.

The only way they'll be a take over is either , after the debt is refinanced or bondholders call in the debt and they sell the assets.

They need to increase production.

SQZ yes I still do think it will be unviable by then , and I don't think the flow rates will stabilise until the new year.

To be clear when I say unviable , I'm talking specifically about being unviable to IOG.

Cjm83 very good balanced post, I don't see futures predicting above 150p presently subject to change of course.

I'm not expecting steady rates until the new year.

How much will Bacton shutdown affect production and stability rates?

People think they are smart asking whether the decline is either natural or linear, this is just a distraction technique.

It's called the 'initial decline ' phase.

During the initial decline, the well's production can decrease significantly, sometimes even by half or more, within the first year.

Don't believe me? Look it up !

SQZ you failed to realise the company had placed a cross default waiver.

A decline over the first year is expected.

'It has also been agreed to appoint a Board Observer to attend IOG board meetings and advise the Company on short and medium-term financial measures.'

The above passage is a clear indication of the bondholders concerns and therefore a debt equity swap was off the table.

Leaving the company with increased debt , as the bondholders are the major creditors.

We'll see, as you offer no counter argument I will presume you're out of your depth of knowledge.

There was no increase in the reserves which suggests the natural decline will continue to 20.8mmscf/d.

Bacton is about to be offline for a week.

The company needs to raise funds and production.

We'll never know but I suspect the bondholders didn't want the equity and would take an extra €5m instead.

A lot can happen between now and end of September but Blythe H2 won't be producing enough.

Looks like the traders have moved on now so next week could be anything.

Looks COPL is a better option for traders.

They've done what they set out to do and that's to create a stable environment in order to sort out the company's finances.

They've brought in Smith Square partners to advise them.